AusAML launches compliance service for registered office providers

AusAML has introduced AML Compliance as a Service for Australian registered office and corporate services providers now covered by AUSTRAC reporting rules from 1 July 2026. The offering is designed to help firms meet enrolment, risk assessment, due diligence and reporting obligations without building a full in-house compliance team.

Why it matters: - Registered office and corporate services providers now sit inside Australia’s AML/CTF regime for the first time. - The new rules raise compliance costs and operational risk for virtual office operators, accountants, law firms and company secretarial firms that provide registered addresses for companies and trusts. - Non-compliance can trigger significant penalties for firms and responsible individuals.

What happened: - AusAML launched a specialised AML/CTF Compliance-as-a-Service offering for registered office and corporate services providers. - The service is aimed at businesses that were captured as AUSTRAC reporting entities from 1 July 2026. - A spokesperson for AusAML, Rana Datta, said the goal is to give providers an AML function that can handle different risk profiles without forcing budget changes based on client profile. - More information is available on AusAML's social media page.

The details: - Affected businesses were required to enrol with AUSTRAC by 29 July 2026. - Providers must complete a risk assessment, implement a written AML/CTF Program and appoint a qualified Anti-Money Laundering Compliance Officer. - Providers must verify the identity and beneficial ownership of every entity using designated services. - Providers must screen clients against sanctions and politically exposed person lists. - Providers must risk-rate clients and file Suspicious Matter Reports when needed. - Suspicious Matter Reports are due within three business days, or within 24 hours for terrorism financing concerns. - AusAML’s service covers the full compliance lifecycle, from program setup through managed operations and regulatory reporting. - The offering is curated by former regulators, senior compliance leaders and locally based AML specialists. - AusAML says the service is scaled to a business’s actual requirements and transaction volumes. - The company’s model has three components: Build, Advise and Operate. - Build includes AML/CTF Program setup, AUSTRAC enrolment, risk assessment, employee due diligence, staff training and continual program review. - Advise includes a named fractional AML Compliance Officer, internal and annual AUSTRAC reporting, customer acceptance advice and regulatory liaison. - Operate includes KYC collection, identification and verification, PEP, sanctions and adverse media screening, customer risk rating, enhanced customer due diligence and SMR preparation and filing. - Complete Coverage pricing starts at $3,200 per month. - The Complete Coverage package includes compliance program development, ongoing advisory support, day-to-day compliance operations and a dedicated fractional AML/CTF Compliance Officer. - An operations-only service is available from $2,000 per month for businesses with an established AML program and in-house advisory capability. - Indicative pricing is based on providers processing about 120 entities a year, with annual billing.

Between the lines: - The new rules are likely to hit firms with very different client risk profiles in different ways. - A local proprietary company may need limited due diligence, while an offshore holding structure with multiple subsidiaries and foreign beneficial owners may require enhanced checks. - AusAML is positioning itself as a outsourced compliance function for firms that do not want to build those capabilities internally. - The release also signals that Tranche 2 reforms are broadening AML obligations beyond traditional finance into professional and corporate services.

What's next: - Providers still need to tailor their compliance operations to the client base they handle. - Firms entering the Tranche 2 framework will likely need ongoing review of their AML/CTF programs as AUSTRAC expectations evolve. - AusAML says its model is intended to let providers meet obligations without diverting time and resources from client work. - Businesses should seek independent legal or compliance advice on their specific obligations under the Anti-Money Laundering and Counter-Terrorism Financing Act 2006 (Cth).

The bottom line: - AusAML is betting that Australia’s expanding AML regime will create demand for outsourced compliance support among registered office and corporate services providers.